One Kings Lane Secures $40 Million in Funding Led by Tiger Global
Management to Continue to Deliver Best Flash Sales Shopping Experience
in the Home Market

SAN FRANCISCO--(BUSINESS WIRE)--One Kings Lane (www.onekingslane.com),
the leading flash sales site in the home market, announced today that it
has raised $40 million in Series C financing led by new investor, Tiger
Global Management. Additional participants include new investor
Institutional Venture Partners (IVP) along with existing investors
Kleiner Perkins Caufield & Byers (KPCB) and Greylock Partners. Lee
Fixel, managing director of Tiger Global, will join James Slavet,
partner, Greylock and Bing Gordon, partner, KPCB, as observers on the
One Kings Lane Board. Aileen Lee, partner, KPCB, One Kings Lane founders
Susan Feldman and Alison Pincus, and CEO Doug Mack, will continue to
serve as Board members.

The funding, which brings the total amount raised to $67 million, will
be used for continued investment in the business to deliver strong
customer satisfaction, new member acquisition, merchandising and
technology innovation, along with business model expansion. One Kings
Lane has surpassed $100M in annualized revenues and is experiencing
accelerated new member acquisition, adding its two millionth member
earlier this year.

“We are providing a fundamentally better way for home consumers to make
purchase decisions and access superior products. We have been rewarded
by our highly loyal members who come back each day for our carefully
curated and unique merchandise, remarkable prices and exceptional
service – which is ultimately fueling our rapid growth,” said Mack.
“This new round of funding will enable us to extend our market
leadership while continuing to deliver the best experience in ecommerce
for the home décor consumer.”

“One Kings Lane has pioneered a new way to shop for the home and is at
the forefront of a $158 billion industry,” said Fixel. “One Kings Lane
has a unique understanding of the consumer in the home category,
delivering a shopping experience they love while driving innovation in
the category.”

About One Kings Lane

One Kings Lane is the leading flash sales site for the home market,
offering members access to spectacular designer home décor, furnishings,
accessories, and gifts – at prices up to 70% off retail. One Kings Lane
works directly with leading home brands to bring the very best products
at exceptional prices to its members — every day of the week. One Kings
Lane also partners with top designers, decorators and industry insiders
to deliver content that inspires, enlightens and informs. Please visit www.onekingslane.com
for more information.

About Tiger Global Management

Tiger Global Management, LLC is an investment firm that deploys capital
globally through its private investment and hedge fund partnerships. The
Firms private investment funds have ten-year investment horizons and
focus on growth-oriented private companies in the global Internet and
technology sectors. Tiger Global’s private investments include Yandex,
Mail.ru Group, Ctrip, New Oriental, 360buy, Flipkart, Makemytrip,
Netshoes, Despegar, MercadoLibre, Trendyol, Facebook, Square, and
Linkedin. The firm’s fundamentally-oriented hedge funds invest primarily
in public equities with an emphasis on long-term trends in the global
technology, telecom, media, and consumer sectors. Tiger Global
Management, LLC was founded in 2001 and is based in New York with
affiliate offices in Beijing and Singapore.

About Greylock Partners

Greylock has partnered with game-changing entrepreneurs to build
market-transforming companies since 1965. As founders, operators and
investors, we strive to be the best partners for entrepreneurs building
disruptive consumer and enterprise software companies. More than 100
partner companies have gone public and more than 100 have achieved
successful mergers/acquisitions, including Constant Contact, Data
Domain, DoubleClick, LinkedIn, Pandora, Red Hat, Success Factors, and
Zipcar. We continue to invest in companies that define new markets,
including Airbnb, Apptio, Cloudera, Facebook, Groupon, Imperva, One
Kings Lane, Palo Alto Networks, and Workday. For more information about
Greylock Partners, visit our Web site (www.greylock.com)
or blog (www.greylockvc.com)
or follow us on Facebook (http://www.facebook.com/greylock)
or Twitter (@GreylockVC).

About Institutional Venture Partners (IVP)

With $3 billion of committed capital, Institutional Venture Partners
(IVP) is one of the premier later-stage venture capital and growth
equity firms in the United States. The partnership is currently
investing IVP XIII, a $750 million later-stage fund focused on
investments in rapidly growing technology and media companies. Founded
in 1980, IVP has invested in over 300 companies, 88 of which have gone
public. IVP has a 30 year IRR of 43.2% and is one of the top performing
firms in the industry. IVP specializes in venture growth investments,
industry rollups, founder liquidity transactions and select public
market investments. Since its inception, IVP investments include such
notable companies as ArcSight (HPQ), Aspect Communications, ComScore
(SCOR), Concur Technologies (CNQR), Danger (MSFT), Digital River (DRIV),
HomeAway (AWAY), Juniper Networks (JNPR), Kayak, LegalZoom,
LivingSocial, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate
(STX), Synchronoss (SNCR), Tivo (TIVO), Twitter and Zynga. For more
information, visit http://www.ivp.com
or follow IVP on Twitter at @ivp.